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Japanese minister: Russia’s Far East can attract more Japanese companies

Among the measures geared to attract Russian and foreign companies to the Far East, the Japanese minister singled out territories of accelerated development

TOKYO, September 6. /TASS/. The number of Japanese companies operating in Russia’s Far East might increase taking into account the potential of the two countries, Japanese Minister of Economy, Trade and Industry Hiroshige Seko, who was appointed minister in charge of development of economic relations with Russian on September 1, told TASS on Tuesday.

"Japan’s Nikki [known abroad as JGC Corporation - TASS] and Mazda have begun to operate in special economic zones of a new type [in the Far East] but I think that taking into account Russia’s and Japan’s potential, the number of Japanese companies operating here might grow up," he said. "To start with, it is important that thanks to such possibilities as the Eastern Economic Forum Japanese companies learn about measures of support taken by the Russian government."

Among such measures geared to attract Russian and foreign companies to the Far East, the Japanese minister singled out territories of accelerated development, the Free Port of Vladivostok and top-priority areas for investments.

"The Eastern Economic Forum is a good possibility to demonstrate that the Russian government has a special interest in the Far East. To launch a business, it is important to have information and find reliable partners. That is why such forms have a positive impact on the formation of concrete projects," Seko underscored.

Issues of the development of relations with Russia have been in Seko’s competences for a long time. However he was formally assigned these duties on September 1 when the prime minister appointed him to a new position of minister in charge of the development of economic cooperation with Russia.

Seko was among the key members of the Japanese delegation at the Second Eastern Economic Forum in Russia’s Vladivostok. The delegation was led by the prime minister. While in Vladivostok, the Japanese economy minister took part in the extended top-level talks and met with Russia’s Minister of Economic Development Alexei Ulyukayev and First Deputy Prime Minister Igor Shuvalov.

The second Eastern Economic Forum was held in Russia’s Far Eastern city of Vladivostok on September 2-3. It brought together at least 2,400 participants, including representative delegations from China, Japan, South Korea, India, Vietnam, Australia, the United States, Singapore and other countries. Russian Minister for the Development of the Far East Alexander Galushka told TASS that more than 200 agreements worth 1.76 trillion rubles (27.26 billion U.S. dollars) were signed at the forum.